Cannabis Market Continues to Grow as More States Eye Legalization
NEW YORK, March 12, 2019 /CNW/ — Over the past few years, the number of companies entering into the cannabis industry has consistently risen. Canada’s recent legalization of cannabis and the rapid spread of public support ongoing in the U.S. has led to the emergence of new cannabis players within the marketplace. Many of these companies are based in fields such as cultivation, distribution, production, and retail. Among these segments, various products such as flower itself or other variation of cannabis like oils, tinctures, resins, and consumables based on concentrates like THC and CBD, are used to ingest the plant. The overall cannabis market is expected to accelerate as global legalization continues to spread for both recreational and medical applications. Moreover, in efforts to curb illicit cannabis trade, international governments have also moved to pass some form of cannabis legislation, further propelling the market.